Business and Economy
Clarification on Bill C-208 provides much needed certainty for small businesses – Canadian Chamber of Commerce
(OTTAWA) – July 19, 2021 – The Canadian Chamber of Commerce’s President and CEO, Perrin Beatty, issued the following statement on today’s clarification from the government on the taxation of intergenerational transfers of small business shares:
“Today’s clarification from Finance Minister Freeland regarding Bill C-208 provides much needed certainty for small businesses by making clear the Bill is now part of the Income Tax Act. The unfair taxation of intergenerational transfers meant that until Bill C-208, it was more difficult and made less financial sense for small business owners to sell their company to their children and grandchildren versus a complete stranger. Small businesses make up 98% of all companies in Canada.
We commend the government of Canada and Parliamentarians from across party lines, including MPs Larry Maguire and Wayne Easter, for not only seeing that C-208 passed through Parliament, but also addressing the issue as soon as possible.
As we make our way from economic recovery to growth, it will be important for small businesses to know that they are being supported. Today’s announcement removes the legislative limbo facing small businesses, which will help facilitate succession planning and help contribute to the successful longevity of Canadian companies.
bail bonds birmingham al
July 20, 2021 at 4:50 PM
I intended to send you that tiny word to give many thanks again on your pretty tricks you’ve discussed above.
This is extremely open-handed of people like you in giving publicly all a few individuals would’ve
marketed as an e book to end up making some profit
for themselves, and in particular considering that you could possibly have tried it if you decided.
The ideas additionally acted like a fantastic way to comprehend someone else
have similar dreams just like mine to realize very much more in terms of this problem.
I am certain there are lots of more pleasurable occasions up
front for folks who read your blog.